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Article: Gucci takeover of Yves Saint Laurent
- Article from:
- The Independent (London, England)
- Article date:
- November 16, 1999
- Author:
CopyrightCopyright 1999 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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AFTER MONTHS of speculation, Gucci, the fashion label synonymous
with luxury and glamour, announced yesterday that it had finally
snapped up Yves Saint Laurent, one of the most prized fashion labels.
Gucci turned into a major multi-brand luxury goods giant overnight
with the acquisition of Sanofi Beaute, which owns Yves Saint Laurent,
for a total consideration of about $1bn. Sanofi Beaute is a luxury-
goods group that controls the Yves Saint Laurent fashion, cosmetics
and perfume businesses, as well as Roger & Gallet and the perfume
licences for Van Cleef & Arpels, Oscar de la Renta, Fendi and Krizia.
This acquisition brings Yves Saint Laurent under the ownership and
control of Domenico de ...